Pennsylvania Ping!
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Posted on 05/24/2024 6:27:12 PM PDT by bitt
The American Dream in Pennsylvania has a price tag: $230,464.
That’s the cost for a family of four to live “comfortably” in The Keystone State.
The tally is based on the “50/30/20 Rule,” which holds that half of a household’s income should be spent on housing and necessities, a third on nonessentials like eating out and entertainment, and the rest on savings and debt.
Here’s the problem: the average household income in Pennsylvania is $100,837, which falls short of the American Dream sticker price by more than a factor of two.
In fact, only 10% of Pennsylvania households have an income that exceeds $200,000. Nine out of ten are nowhere close to living comfortably, according to the standards of financial planners.
To get by, Pennsylvanians are pulling out all the stops.
Cohabitation has skyrocketed. Children and grandchildren of Baby Boomers are moving in with their parents to serve as caregivers in exchange for rent-free living and dipping into their elders’ retirement savings. Culturally, moving back in with your parents in your mid-forties has never been part of the American Dream.
Pennsylvania credit card debt is at an all-time high. Nearly 10% of accounts are delinquent. For many, credit cards serve as temporary supplemental income.
The number of beneficiaries of SNAP federal food benefits has grown 75% despite flat population growth in the Commonwealth. With unemployment at record lows, more Pennsylvanians than ever need help paying for groceries.
(Excerpt) Read more at realclearwire.com ...
P
The country has been “fundamentally transformed”.
And AI is going to make it much worse, real soon.
‘Living Comfortably’ is VERY subjective. Americans are spoiled children compared to the rest of the world.
But, Let’s Go, Brandon! *SMIRK*
We need MORE of this reporting about the cost of living in Swing States between now and November. MAGA! ;)
Bidetnomics.
They can thank themselves ... for Gov Shapiro.
Culturally, moving back in with your parents in your mid-forties has never been part of the American Dream.
That gave me a chuckle.
Pennsylvania Ping!
Please ping me with articles of interest.
FReepmail me to be added to the lis
My jury is out on Shapiro.
$pendell and Tommie (”the Commie”) Wolf....guilty beyond a reasonable doubt.
We are poor....we went from solid middle class to being poor...
Wolf ... that’s the commie I was trying to think of.
Hopefully, things can be fixed, with a YUGE dose of MAGA.
50% (post tax I presume) spent on housing? that seems obscene
In how much time?
I’m sorry to hear this, but, you are not alone, by how this article reads.
God bless.
So a PA family is supposed to spend $69,139 a year on dining out and other non necessary expenses?
The Amish gave that boost in 2016.
Lancaster County put DJT om the White House.
Never forget!
:-)
“50% (post tax I presume) spent on housing? that seems obscene”
Housing and necessities includes food clothing medicine, etc.
With the price of housing and food alone, few people can do it with just 50% of their income with the way things are since Brandon and friends screwed the country.
I've been living on the 98/2/0 Rule for years now.
Except to illegal alien invaders. The Far Left RATS are giving the Special Free Limited Edition “American Dream” to the foreign freeloading invaders and making the taxpayers pay for it.
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